GOLDMAN'S CHAIR OF US$1.8-TRILLION DIVISION TO RETIRE

Sheila Patel, chair of Goldman Sachs Group Inc.'s asset-management unit, is leaving the US$1.8-trillion division after almost two decades at the firm. Patel, 51, is among the company's most senior women and shepherded some of Goldman's highest-profile relationships with investors around the world. She will step down from the partnership and become an advisory director in the new year, CEO David Solomon said in a memo to staff Monday. “Sheila has contributed to our culture, including by serving as a mentor to many Goldman Sachs professionals around the world,” Solomon wrote . “I look forward to benefiting from her continued counsel.” Patel, pictured, rose to Goldman's highest ranks in 2006 when she was named partner within three years of joining the firm.